This is similar to those 1 Euro houses in Italy. The catch is you're obligated to renovate it, and typically needs new wiring and plumbing.

So many great points here and definitely a sustainable trend in the last few years led by enthusiasm of international residents and visitors - looking forward to meeting a lot more enthusiasts of renovating old houses at the MINKA SUMMIT in Hanase Village, Kyoto in April (organized by Kominka Japan) they expect 500 people there this year!